3 Simple Secrets to Stay Ahead in The Generic Pharma Competition Using a CRM for Pharmaceutical Companies

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3 Simple Secrets to Stay Ahead in The Generic Pharma Competition Using a CRM for Pharmaceutical Companies

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3 Simple Secrets to Stay Ahead in The Generic Pharma Competition Using a CRM for Pharmaceutical Companies

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A drug is a chemical substance that is used to diagnose an ailment. A drug goes under various clinical trials and checks. May it be a drug research or manufacturing it is a costly expenditure. The pharma industry concentrates over providing vaccinations for various diseases and problems.

Let us know more about generic drugs and pharma.

What is generic drugs?

A generic drug is a medication similar to that of the brand- named drug that is already marketed. These generic drugs have the same dosage, effects, side effects, safety, risk, performance and use. The only characteristics that the generic drugs differ from the brand named drugs may be manufacturing process, formulation, colour, taste and packaging. These generic drugs are cheaper than the brand named drugs and also easily available.

Though these generic drugs are similar to the branded drugs, people believe in few myths that these generic drugs may not be as effective as the branded ones. Thus, it experiences huge competition in the pharma industry.

Do you want to know how you can stay ahead in this competition of Generic vs. Branded?

Pharma CRM is the best answer or a strategy to overcome the competition. The 3 simple secrets to stay ahead in generic pharma competition using the CRM solution are –

1. Lucrative database

The pharma CRM helps you to maintain the overall database of doctors, chemists, hospitals, distribution channels, health care centres etc. And the best part is all the information is available on a single platform that is available at anytime and anywhere. When all the data is available on a single platform it becomes easy to increase the customer awareness about the generic drugs. Every data will be at the fingertips of the executives which also reduces the operational costs.

2. Inventory management

Inventory management is a process of tracking every product or drug of the stock as it is brought or as it has left the warehouse. This process helps to monitor the inventory trends in the warehouses. But, maintaining inventory through spreadsheets are surely going to be hectic and there are chances of errors. Hence, implementing an inventory control of Pharmaceutical software that tracks the inventory leads, orders and sales etc can be an effective way of managing your business activities.

Incases of any trouble or bottlenecks, it can be spotted easily and required changes can be made. You can also manage the whole inventory process and be aware when the expired inventory is required to be restocked for hospitals, clinics and healthcares etc. Thus, the Pharma CRM will help you to reach the right people at the right time with the right source of data as it provides-

3. Work productivity

Your med reps i.e, the MRs are the ones who create a bridge between the clients and your product. They take the responsibility of representing your company to the hospitals, doctors or chemists etc. Enhancing the work productivity of your MRs becomes very important.

You would have seen that your MRs are the ones who work hard morning and evening at various hospitals, clinics and health centres in different places as per the planned tour plans (monthly tour plan). They need to have a huge knowledge about the overall data and prepare reports at the end of the week/month. And preparing these reports are one of those time consuming tasks where the MRs spend a lot of time. They need to manage the calls and mails as per priorities which makes it possible to reach the right clients at the right time. And much more tasks to the list.

Provide reports about DCRs(Daily Call Reports), tour plans and performance reports to the managers or higher authorities. Basically, the managers can also track their MRs and know what their MRs have done the whole day.

They can access overall data and information with just a click at any time or any place.

Manage sales target and product order booking efficiently.

Manage sample and gift inventory

Manage pending enquiries with their sources. It can be helpful in evaluating the sources usefulness.

The above 3 simple secrets to stay ahead in the Generic Pharma competition using a Pharma CRM solution will assist you in getting the best out of the Pharma CRM. It basically plays a role of a business strategy to help the Generic Pharma to increase prescriptions, ensure better sales and delivery, maintain good relationship with the clients in order to reach them at the right time, get ROI (Return on Investment) because they invest huge amount for the manufacturing and maintenance and builds trust etc.

Though you are a generic Pharma you can still stay ahead in the competition with branded Pharma and lead the race for the longest of time. If you follow a few essential tips like – see to that personalizations are able to fit into your business, get a CRM software from a trusted pharma CRM vendor, Check out for demo or free trials and lastly choose the right CRM software for your Pharma and grow your business efficiently. If you are still not using a Pharma CRM, get your Pharma CRM at SalesBabu medSFA software. You can visit our website https://www.salesbabu.com/and to request for a free demo.